RE:RE:RE:RE:RE:EGM info posted on websiteTETHYS PETROLEUM LIMITED EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS TO BE HELD ON JANUARY 27, 2017
PARTICULARS OF MATTERS TO BE VOTED ON
Potential Share Ownership if the Resolutions are Approved
Shareholders are being asked to approve two resolutions, (i) the Warrant Exercise Resolution (as defined below)
which, as described in more detail below, would approve the issuance of up to 192,300,000 Ordinary Shares to the
Investors (up to 96,150,000 each) upon exercise of warrants previously issued to the Investors and (ii) the Debt
Conversion Resolution (as defined below) which, as described in more detail below, would approve amendments to
certain outstanding debt obligations to PAM which would, among other things, extend the maturity date of such debt
and permit the issuance of up to 186,316,064 Ordinary Shares to PAM upon conversion of such debt. The
Resolutions are not conditional on each other, so either Resolution may be approved even if the other is not. The
following table sets out the ownership of the Ordinary Shares by each of the Investors and PAM, both before and
after the Meeting in difference scenarios.
Scenario JGL Prax PAM Total Shares
Outstanding
Current Ownership
43,951,698 8.6% 43,951,698 8.6% 87,903,396 17.3% 508,136,098
Only Warrant
Exercise Resolution
Approved and one
Investor exercises all
Warrants :
140,101,698 23.2% 43,951,698 7.3% 87,903,396 14.5% 604,286,098
Only Warrant
Exercise Resolution
Approved, both
Investor exercise all
Warrants :
140,101,698 20.0% 140,101,698 20.0% 87,903,396 12.5% 700,436,098
Only Debt
Conversion
Resolution approved
and maximum
amount of debt :
43,951,698 6.3% 43,951,698 6.3% 274,219,460 39.5% 694,452,162
converted
Both Resolutions
Approved and all
Warrants and debt
exercised/converted :
140,101,698 15.8% 140,101,698 15.8% 274,219,460 30.9% 886,752,162